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states. >> yeah, i agree with you on that, bill, but i just want to make a point that i've heard a lot of politicians talk about unemployment. i've not heard any single person talk in a more impassioned way. you can agree or disagree with his prescription, but as far as i can tell, he's the only one in the political establishment doing anything about it. so i think that's an important thing. and that's one of the reasons why, you know, he feels -- he's pointing out that fed policy is not a panacea. he needs help from the fiscal side. >> how come we're not getting it, steve? is it just because washington is so broken? >> i think it's so broken, and i think no side is willing to give the other side any advantage whatsoever until the election clarifies. >> i think that's outrageous. i think that's outrageous, really. i do. >> but it's the reality we face right now. lance roberts, what strikes you about -- i mean, are you hopeful that the economy can get better as ben bernanke suggests, or are you more concerned about what the implications are for this kitchen sink monetary policy we're ge
states. >> yeah, i agree with you on that, bill, but i just want to make a point that i've heard a lot of politicians talk about unemployment. i've not heard any single person talk in a more impassioned way. you can agree or disagree with his prescription, but as far as i can tell, he's the only one in the political establishment doing anything about it. so i think that's an important thing. and that's one of the reasons why, you know, he feels -- he's pointing out that fed policy is not...
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Sep 12, 2012
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both by the libyan authorities an by the united states government. if there's a large crackdown in the country on potential trouble makers, then that could backfire and we could see this evolve into further violence. but if that doesn't happen, then i don't foresee an impact on oil. >> thank you very much for joining us today. >>> u.s. energy policy is a major issue in the presidential race. with both campaigns painting wildly different pictures of the situation. our senior correspondent scott cohn is here to try to separate the fact from fiction in our weekly fact checking report. what have you found? >> well, guess what? there's spin on both sides. let's start with the president last week in charlotte. >> in the last year alone, we cut oil imports by 1 million barrels a day. more than any administration in recent history. and today the united states of america is less dependent on foreign oil than at any time in the last two decades. >> well, it is true that the u.s. now imports only 45% of its petroleum, the lowest since the '90s, according to the
both by the libyan authorities an by the united states government. if there's a large crackdown in the country on potential trouble makers, then that could backfire and we could see this evolve into further violence. but if that doesn't happen, then i don't foresee an impact on oil. >> thank you very much for joining us today. >>> u.s. energy policy is a major issue in the presidential race. with both campaigns painting wildly different pictures of the situation. our senior...
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Sep 7, 2012
09/12
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we have a fiscal and monetary problem here in the united states. what will solve the problem right now? so far the fed doesn't seem to be able to create so many jobs right now. >> what bernanke said last week and i agree with him and the evidence points in this direction is the main reason we have an 9.1% unemployment is because of weak demand. if you're thinking about monetary or fiscal policy, on the fiscal side, it comes from tax cutting, spending increases, or both, and we have to worry about that. on the monetary side, what monetary authorities can do is reduce interest rates and try to reduce rates across a broad set of assets through qe policies. the fiscal and monetary side are trying to stimulate demand, and demand is missing to great stronger momentum. >> they're pushing on a string, rant they? >> the fed has the capability to act right now, and i think always, you know, again chairman ber knack key admitted that this policy tool is not a particularly strong tool. >> ben bernanke said that he creating two million jobs. they did analysis a
we have a fiscal and monetary problem here in the united states. what will solve the problem right now? so far the fed doesn't seem to be able to create so many jobs right now. >> what bernanke said last week and i agree with him and the evidence points in this direction is the main reason we have an 9.1% unemployment is because of weak demand. if you're thinking about monetary or fiscal policy, on the fiscal side, it comes from tax cutting, spending increases, or both, and we have to...
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Sep 4, 2012
09/12
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china, europe, and the united states. look, we know that china used to be one of the world's great growth engines. it almost single handedly kept the global economy afloat during the global recession. but after playing the roe of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, the slowdown in china seems somewhat self-inflicted. governments hit the brakes and in many ways still seems like it's happening. the hope is the chinese will start cutting rates, adding real octane to the down shift in their economy. how about europe? the european central bank meeting this week and we're expecting to hear some chatter in unison that's going to ereverse the declining economies over there and maybe unite to save the spanish banking system. you can monitor these efforts by watching the largest spanish bank which has been climbing ever since it bottomed at $4 and change. $7 stock finishing up 0.18
china, europe, and the united states. look, we know that china used to be one of the world's great growth engines. it almost single handedly kept the global economy afloat during the global recession. but after playing the roe of the world's economic engine for so long, the chinese locomotive seems to be in danger of running off the rails. each piece of data is weaker than the last. so what's good about that? well, the slowdown in china seems somewhat self-inflicted. governments hit the brakes...
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Sep 14, 2012
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states goes over the fiscal cliff. they have to engage in sequestration, or massive budget cuts. by the numbers, here's what in the proposal they put out today starting with a 9% cut to most pentagon programs. customs, the faa, and food inspection services. exempt from the cutbacks are social security, medicaid and also many veterans benefits. earlier today, white house spokesman jay carney said that the white house hopes it never has to put this plan into place. take a listen. >> sequester was designed to be bad policy,n n tn to to be one and to be objectionable to both republicans and democrats. >> now, maria, what the white house is saying also, senior officials here in a briefing earlier today they hope now that some of these painful cuts are laid out, this could help marshal support from republicans to do something about the fiscal cliff before it hits at the end of this year. obviously, there's a big election between now and then. >> oh, yeah. thank you so much. worries those budget woes and tax hikes could come
states goes over the fiscal cliff. they have to engage in sequestration, or massive budget cuts. by the numbers, here's what in the proposal they put out today starting with a 9% cut to most pentagon programs. customs, the faa, and food inspection services. exempt from the cutbacks are social security, medicaid and also many veterans benefits. earlier today, white house spokesman jay carney said that the white house hopes it never has to put this plan into place. take a listen. >>...
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Sep 12, 2012
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i mean, it was a terrible statement typical of the president of the united states. he deflects it and he attacks romney admitting this is a botched statement, holding the egypt government responsible for something like this is absolutely something they need to do if they want to have continued cooperation from the united states. >> and i want to ask peter brooks, old friend, so hillary says today in her comment that we reject these acts, quote, unquote, we reject these actions, but the president says later we will bring to justice. how he's going do that, i don't know. we will bring them to justice, peter brooks. what the hell does that mean? would you please tell me because to me, he is more interested in promoting these muslim states running through the art than he is promoting american influence and leadership in that region. that's what's got me really bugged, peter. how is he going to bring them to justice? >> i certainly can't channel president obama. i'm not the right person to do that. what i hope he means here is that the government of libya does not bring
i mean, it was a terrible statement typical of the president of the united states. he deflects it and he attacks romney admitting this is a botched statement, holding the egypt government responsible for something like this is absolutely something they need to do if they want to have continued cooperation from the united states. >> and i want to ask peter brooks, old friend, so hillary says today in her comment that we reject these acts, quote, unquote, we reject these actions, but the...
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Sep 13, 2012
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the united states has enjoyed broad price stability since the mid 1990s and continues to do so today. the employment situation, however, remains a grave concern. while the economy appears to be at a path of moderate recovery, it isn't growing fast enough to make significant progress reducing the unemployment rate. fewer than half of the 8 million jobs lost in the recession have been restored and at 8.1%, the unemployment rate is nearly unchanged since the beginning of the year and is well above normal levels. the weak job market should concern every american. high unemployment imposes hardship on millions of people and it entails a tremendous waste of human skills and talents. 5 million americans have been unemployed for more than six months and millions more have left the labor force. many of them doubtless because they've given up on finding suitable work. as the skills of the long term unemployed at atrophy, they may find it increasing by difficult to get good jobs, also to the detriment of our nation's production pro tensiotential. the fomc has provided unprecedented levels of pol
the united states has enjoyed broad price stability since the mid 1990s and continues to do so today. the employment situation, however, remains a grave concern. while the economy appears to be at a path of moderate recovery, it isn't growing fast enough to make significant progress reducing the unemployment rate. fewer than half of the 8 million jobs lost in the recession have been restored and at 8.1%, the unemployment rate is nearly unchanged since the beginning of the year and is well above...
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Sep 27, 2012
09/12
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for 30 some years at manytendet different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy
for 30 some years at manytendet different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that...
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Sep 27, 2012
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david foon is part of the fastest growing jewish newspaper in the united states. gentlemen, how big of a factor is this tension between iran and israel factored into the price of oil? >> there's no question that today's run-up, marimaria, was direct reaction. we got a leak of some of the speech earlier before the market opened that, in fact, prime minister netanyahu was going to state what this red line was going to be all about. now we know. of course, it comes on the heels of ahmadinejad's speech yesterday. this got right back in the forefront of the traders and the markets' mind here. what it represents, of course, for oil is, you know, the mother of all supply risks here. the strait of hormuz comes into play. the whole region comes into play. obviously, it's almost a mild reaction given what we got here today. we're clearly on a path to something, some confully grags. i do say given that netanyahu says they won't get to that final stage until next summer, we have some time. >> david, what did you think of the red line speech? netanyahu has pressed for this bef
david foon is part of the fastest growing jewish newspaper in the united states. gentlemen, how big of a factor is this tension between iran and israel factored into the price of oil? >> there's no question that today's run-up, marimaria, was direct reaction. we got a leak of some of the speech earlier before the market opened that, in fact, prime minister netanyahu was going to state what this red line was going to be all about. now we know. of course, it comes on the heels of...
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Sep 13, 2012
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what bothers me is see a public argument between israel and the united states. you never want to see that and put it in private and have a united front in public. i would hope israelis would trust the united states we will block iran and deal with the iran question on our terms and a time of our koosing. i don't think it's smart with the israelis or prime minister to think he should attack soon. i do think there's an increasing realization within israel they're better off working with the united states on this question and not going it alone. >> thank you. thank you very much. >>> former undersecretary of state nick burns and former secretary of state paul wolfowitz and abc broadcaster, john bachelor, thanks to all of you. >>> coming up, new fed firepower sends stocks soaring, the biggest finish since 2007. >>> and is the fed carrying obama's water? has it gone rogue? is it election year manipulation and just plain old election politi politics? free market capitalism the best path to prosperity. i wish we had a whole lot more on the middle east but not much at t
what bothers me is see a public argument between israel and the united states. you never want to see that and put it in private and have a united front in public. i would hope israelis would trust the united states we will block iran and deal with the iran question on our terms and a time of our koosing. i don't think it's smart with the israelis or prime minister to think he should attack soon. i do think there's an increasing realization within israel they're better off working with the...
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Sep 12, 2012
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. >> the united states condemns in the strongest terms this outrageous and shocking attack. we're working with the government of libya to secure or diplomates. i've directed my administration to increase our security at diplomatic posts around the world. >> the attacks of libya and egypt underscore that the world remain aes dangerous place and that american leadership is still sorely needed. in the face of this violence, america cannot shrink from the responsibility to lead. leadership is necessary to ensure that events in the region don't spin out of control. >> all this happening as israeli prime minister benjamin netanyahu is using the strongest language to date about using force to stop iran from developing a nuclear weapon. this brings up the issue of making the u.s. less dependent on foreign oil. should we get off of middle eastern oil? chris, you first. all of this make you nervous about how much we depend on that region for our energy needs? what's the answer? >> well, you know, you look at saudi arabia providing 20% of the oil imports for this country. america needs
. >> the united states condemns in the strongest terms this outrageous and shocking attack. we're working with the government of libya to secure or diplomates. i've directed my administration to increase our security at diplomatic posts around the world. >> the attacks of libya and egypt underscore that the world remain aes dangerous place and that american leadership is still sorely needed. in the face of this violence, america cannot shrink from the responsibility to lead....
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Sep 19, 2012
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what's going to happen in the united states? people just want certainty, particularly at a time like this when china is in a recession. >> that is exactly what i'm talking about in my observation coming up. people are not going to add heads to the payroll if you don't know what your tax bill is going to look like. >> no way. you're kidding yourself. >> it's on congress, then. we need fiscal policy. >> we need leadership. we need a marshall plan. we need a grand plan that first starts with today's reality before you try to go to tomorrow. >> what do you think about the election? do you think the election changes this? does that bring us clarity? >> well, that's a tough one. i mean, it's not sure. because the people that running for office, are they going to actually operate, or is it just going to be what they do with a speech, right? what really counts is not the speech but what you do in between the speech. >> the truth is, we may not get the clarity because they're not dealing with the issues like the fiscal cliff until after
what's going to happen in the united states? people just want certainty, particularly at a time like this when china is in a recession. >> that is exactly what i'm talking about in my observation coming up. people are not going to add heads to the payroll if you don't know what your tax bill is going to look like. >> no way. you're kidding yourself. >> it's on congress, then. we need fiscal policy. >> we need leadership. we need a marshall plan. we need a grand plan that...
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Sep 10, 2012
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. >> the problem with ford is not the united states where things are terrific and mark fields is on this morning saying a lot of good things. the problems are in latin america and the problems are in europe. i think the stock is just a hold, not a buy, not a sell. i need to go to gene in texas. jeanne! >> caller: yes, thanks for taking my call, jim. i'm calling about permian basin trust. >> the problem is they are cutting back. a lot of them are cutting yield and distributions. independent staying away from this group for now. let's go to sol in new york. >> caller: booyah from the big apple, jim. >> liking it. >>. >> caller: withes recent drug approvals what are your stocks on dndn? >> no, no, no. i don't like it. very cloudy future and crowded place. let's go to elvis in iowa. elvis! >> caller: booyah from des moines iowa. >> like it. >> i have a question about amorrin, fda approval a couple months ago. >> as long as you recognize this is pure speck because this had a very big move. i will bless it only as a speck. >> i need to go to john in massachusetts. >> caller: big booyah, jim. t
. >> the problem with ford is not the united states where things are terrific and mark fields is on this morning saying a lot of good things. the problems are in latin america and the problems are in europe. i think the stock is just a hold, not a buy, not a sell. i need to go to gene in texas. jeanne! >> caller: yes, thanks for taking my call, jim. i'm calling about permian basin trust. >> the problem is they are cutting back. a lot of them are cutting yield and...
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Sep 13, 2012
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both natural gas going higher in the united states, making coal a little more advantageous, and using some signals that you follow closely in china, maybe some improvement there in july. has it continued along these positive lines? >> yeah, jim. we continue to believe that the markets, both in the u.s. and in china, have sort of found their bottom and they're beginning to move sideways right now. which is good because it's indicating a sign of stability. we do see an up side in both markets, and probably more evidence of that in the u.s. market right now because it took the decline sooner than china. but we have a lot of indicators that tell us that china's going to be stabilized for a while and begin to recover as well. so we feel pretty good about both markets. i just want to add that our business is largely driven by after-market, which is much more stable than original equipment. we do see volatility out of these markets on project expansions, which drive the demand for original equipment. the after-market subpoena much more stable for us and gives us that stability overall. we ca
both natural gas going higher in the united states, making coal a little more advantageous, and using some signals that you follow closely in china, maybe some improvement there in july. has it continued along these positive lines? >> yeah, jim. we continue to believe that the markets, both in the u.s. and in china, have sort of found their bottom and they're beginning to move sideways right now. which is good because it's indicating a sign of stability. we do see an up side in both...
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Sep 13, 2012
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i think foreigners should definitely love the united states. they should definitely love president obama because every country is getting rich on us. in particular, china and the opec nations. they're getting absolutely rich dealing with the united states because we have people that are incompetent and don't know what they're doing. >> in terms of domestic issues, the fed and bernanke say rates are going to stay exceptionally low until 2015. you surprised fwha? mid-2015. we're talking about three years of these low rates. why would anybody be in a rush to do anything with when you have plenty of time? >> they're creating phony numbers. they're doing it through stimulus. the stimulus, many people would say, is the worst thing that can happen. the dollar will go down in value. inflation will start rearing its ugly head. i think probably those two things will ultimately make for change. we'll see what happens. inflation will happen. the dollar will go down. >> what's your take on this market, donald? you said you had some investments in this marke
i think foreigners should definitely love the united states. they should definitely love president obama because every country is getting rich on us. in particular, china and the opec nations. they're getting absolutely rich dealing with the united states because we have people that are incompetent and don't know what they're doing. >> in terms of domestic issues, the fed and bernanke say rates are going to stay exceptionally low until 2015. you surprised fwha? mid-2015. we're talking...
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Sep 14, 2012
09/12
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i think for the united states, while we've got room for multiple expansion in the united states where we're at today, earnings are getting kind of topee. europe makes a better bet. >> the last time you came on several months ago when you were bearish the euro, have you also changed targets to several months ago? >> actually, i haven't, mandy. the euro is going to continue to appreciate. we've obviously gotten a really nice bounce here, up to around 131. we probably have a little more upside on a technical basis. but the whole key to the european recovery is around dr. draghi continuing to print money, and printing money is going to ultimately put downward pressure on the euro, and they need that to get the economy of the periphery to expand. >> if you're buying european stocks, what are you selling? >> brian, i think you know a couple of months ago, two or three months ago, i turned very bearish on treasury. we started selling ten year notes at 1.65. we were probably too early. but i am exceptionally negative about treasury securities, and i think that's probably the best short out th
i think for the united states, while we've got room for multiple expansion in the united states where we're at today, earnings are getting kind of topee. europe makes a better bet. >> the last time you came on several months ago when you were bearish the euro, have you also changed targets to several months ago? >> actually, i haven't, mandy. the euro is going to continue to appreciate. we've obviously gotten a really nice bounce here, up to around 131. we probably have a little...
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Sep 13, 2012
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how about is the hurdle in the united states particularly from the second tier defense contractors? >> it's substantial, ross. and good more than ning to you kelly. i think what we'll see in the u.s., we call them second tier, but they're huge in their own right. lockheed martin, northrop grumman, general dynamics, those companies will feel immense pressure to merge or at least look at combinations in order to have the size to compete with a combination of aeds/bae and boeing. $90 million worth of revenue last year. boeing still is technically the largest at $67 billion in revenue. and as you mentioned, the approval here in the u.s. is going to be key because really this deal is all about greater access to the u.s. defense market. despite all the objections, when you look at the plants and the production facilities that both bae and aeds now have, or are under construction, i think they'll have enough clout to ultimately get the deal to go through. >> phil, there's certainly a lot of focus on whether this is an effort to kind of get aeds operating more -- thought of more as an indep
how about is the hurdle in the united states particularly from the second tier defense contractors? >> it's substantial, ross. and good more than ning to you kelly. i think what we'll see in the u.s., we call them second tier, but they're huge in their own right. lockheed martin, northrop grumman, general dynamics, those companies will feel immense pressure to merge or at least look at combinations in order to have the size to compete with a combination of aeds/bae and boeing. $90 million...
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Sep 11, 2012
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probably both in universieurope united states. that keeps the action going. >> is that a good thing, don? what do you think about that? is it a good thing we're seeing such momentum in this market ahead of the fed policy, ahead of any of the policy coming out of any international central banks? >> what it does have is a very good effect from the standpoint of mr. obama because, although -- well, people say the unemployment number was terrible, so that's bad for obama. all the polls show that if the s&p 500 is doing really well, that the people out there tends to be more tolerant of some bad economic numbers. on the other hand, if the s&p is cratering and we're getting bad unemployment numbers, then that's good news for mr. romney. >> september and october typically are volatile periods for this market. some tough times right now. ron, one of the expectations is that the fed may add liquidity, but they may also extend the period of time that the fed will keep rates low for that period of time. maybe into 2015 is the expectation. is
probably both in universieurope united states. that keeps the action going. >> is that a good thing, don? what do you think about that? is it a good thing we're seeing such momentum in this market ahead of the fed policy, ahead of any of the policy coming out of any international central banks? >> what it does have is a very good effect from the standpoint of mr. obama because, although -- well, people say the unemployment number was terrible, so that's bad for obama. all the polls...
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Sep 20, 2012
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states. go in there with good security selectors. there's going to be some volatility but valuations matter a lot. >> we're at five and a half year highs in this market. are we getting a little more expensive overall. >> 13.5 times, the s&p 500 is right where you need to be right now, as long as the economy continues to move forward and continues to grow 1.5 to 2%. our view is, the economy has fallen off a cliff since the start of the second quarter and it's moving sideways right now. qe 3, the feds boldest move yet really needs to be successful, you're seeing glimmers in recovery and housing. it remains at suppressed levels. if we can continue to move forward here, can you see the impetus come into the economy. >> ben bernanke has said, the success of qe 3 will be determined by job growth in this economy. will it create jobs? >> it will create jobs in the real estate related markets. that could be a start. >> are you sticking to your estimates in terms of double-digit growth for financials i
states. go in there with good security selectors. there's going to be some volatility but valuations matter a lot. >> we're at five and a half year highs in this market. are we getting a little more expensive overall. >> 13.5 times, the s&p 500 is right where you need to be right now, as long as the economy continues to move forward and continues to grow 1.5 to 2%. our view is, the economy has fallen off a cliff since the start of the second quarter and it's moving sideways...
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Sep 14, 2012
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i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. >>> just minutes ago an activist judge struck down wisconsin's collective bargaining law saying it's unconstitutional on the state and federal level. this was governor scott walker's prime achievement for which he was re-elected on a recall vote. so here to break it down for us, cnbc contributor robert costa of "the national review." is this some dumb ass left-wing judge who is try to stop the recall electio
i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up....
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Sep 13, 2012
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universities, over 40 universities in the united states and we've created over 20 companies to date and hundreds of jobs in those companies. >> a lot of people believe in this charged election season that business and the government can't work together, can't collaborate. i assume that this is an example that you would say belies that premise. >> we absolutely agree that the government and private equity can work together. there are many challenges that the dod is facing and they're coming up with solutions, technical solutions to that in cyber security, in wireless communications. those things have direct applications to the commercial marketplace and we can create companies around those and go to market here in the u.s. with them. >> give me some examples where in the past, defense oriented technologies or defense developed technologies have become a successful private market products and tell me as you think about this intellectual property that the government owns, what do you think has the most promise now for the next gen products? >> dod labs had had long been a rich source of in
universities, over 40 universities in the united states and we've created over 20 companies to date and hundreds of jobs in those companies. >> a lot of people believe in this charged election season that business and the government can't work together, can't collaborate. i assume that this is an example that you would say belies that premise. >> we absolutely agree that the government and private equity can work together. there are many challenges that the dod is facing and they're...
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Sep 14, 2012
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could this latest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades. getting closer to consumers will play to amazon's advantage over the next few years. >> we lived a pretty ebs tensive survey of about 1100 people in the u.s., 20% of them was the avoid dance of sales taxes, the major reason they shop on amazon. you can impose state taxes. like they did in new york. we don't think you'll see a growth tax in california. >> advantages of having warehouses closer to consumers. one would be the roll out of same-day delivery, how big could that part of the business actually be? >> to mark's point, when you survey consumers convenience and selection an
could this latest move, this trend across the united states hurt the stock? collin, this must be significant because amazon has a big competitive advantage if it's able to sell unlike the bricks and mortars shops with no sales taxes in certain states. >> ten years ago, it was a bigger advantage for amazon for consumers to avoid sales taxes. today, not having distribution centers closer to consumers is the biggest disadvantage for amazon. we think they're turning lemons into lemonades....
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we have had the four largest deficits in the history of the united states. four deficits in excess of a trillion dollars each so that more than a third of all the debt ever run up in the 236-year history of the united states, more than a third of it was under barack obama's presidency in the last three and a half years. who's going to pay off the debt? our children and a grandchildren. that's who is going to pay it off. that's where romney and paul ryan are calling for a growth agenda where we can start creating jobs in this country and not have economic growth of 1.7%, under 2% and a federal reserve board that believes we'll be in this shape for two years. that's why they say they will keep interest rates for another two years. >> you heard him talk about the debt created under president obama when the country was going off a fiscal cliff and the banks were seizing up. he never referenced the 5 trillion in debt generated under george bush while he was governor. he never referenced the two wars we didn't pay for. george bush was the first president in the hi
we have had the four largest deficits in the history of the united states. four deficits in excess of a trillion dollars each so that more than a third of all the debt ever run up in the 236-year history of the united states, more than a third of it was under barack obama's presidency in the last three and a half years. who's going to pay off the debt? our children and a grandchildren. that's who is going to pay it off. that's where romney and paul ryan are calling for a growth agenda where we...
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Sep 17, 2012
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it's more growth, more competitive for the united states. you have a plan to shrink the government by $2 trillion in your first term if you get it. $2 trillion. talk about it. don't pull any punches. don't let your advisors talk you out of it. go straight ahead on lower taxes and lower spending. it's a good growth prescription for america that needs it. that's it for tonight's show. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benefits with the r
it's more growth, more competitive for the united states. you have a plan to shrink the government by $2 trillion in your first term if you get it. $2 trillion. talk about it. don't pull any punches. don't let your advisors talk you out of it. go straight ahead on lower taxes and lower spending. it's a good growth prescription for america that needs it. that's it for tonight's show. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to...
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Sep 10, 2012
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it tells you a lot about the structural dynamic of employment here in the united states. and you're seeing still an increase in the number of people hiring for temporary work rather than full-time employment and a lot of the full-time jobs are in the lower paying wage range which really impacts consumer for down the road for stronger economic recoveries. >> another concern is the falling share of americans who are in the labor force. so as a whole, the figure continues to decline that's partly because of demographic reasons. but 20 to 24-year-olds, 70% for the first time. a trend across the board happening worldwide. and it would suggest that this goes beyond -- or that the damage in this particular recession could last for quite some time. >> certainly we're hoping to see better that i thinks to see people give more encourage chme but a lot of things have to be addressed quickly. what you are seeing is again i would go back to the fact that there are still a lot of job opportunities out there. people have to know where to find them. we pulled statistics from the national
it tells you a lot about the structural dynamic of employment here in the united states. and you're seeing still an increase in the number of people hiring for temporary work rather than full-time employment and a lot of the full-time jobs are in the lower paying wage range which really impacts consumer for down the road for stronger economic recoveries. >> another concern is the falling share of americans who are in the labor force. so as a whole, the figure continues to decline that's...
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states, that the united states is against islam. as soon as the leaders who were strongmen who were removed, a lot of those conspiracy theories rose to the surface. i think education is certainly necessary. >> we had one of our reporters earlier, richard, make the point that moderate middle easterners can't compete when push comes to shove with extremists, the best of intentions -- by definition, when you're moderate, you're not willing to go that extra mile. i guess we shouldn't be surprised. it's hard to anticipate and hard to deal with. >> i think there was also an over estimation of the strength of the moderates. everyone at least in the west was looking at twitter and there seemed to be a flood of moderate voices from the middle east. a lot of the voices were people who lived in canada, australia and the united states, not really here so much. i think that props overrepresented the number of moderates, the number of people who seemed to want just what the united states wanted. that really was never the case. you can see now all
states, that the united states is against islam. as soon as the leaders who were strongmen who were removed, a lot of those conspiracy theories rose to the surface. i think education is certainly necessary. >> we had one of our reporters earlier, richard, make the point that moderate middle easterners can't compete when push comes to shove with extremists, the best of intentions -- by definition, when you're moderate, you're not willing to go that extra mile. i guess we shouldn't be...
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was one of the worst economic decisions in the history of the united states. on where we go from here. >>> creating job opportunities in a world of technology. >> just what i need. let's do that. >> former aol boss with a plan to pave the way for the next generation of america's workforce. >> and tracking the fed's next steps. find out what fed watchers and experts are saying in the latest cnbc fed survey. the second hour of "squawk box" begins right now. >>> good morning, everybody. welcome back to "squawk box" on cnbc. i'm becky quick, the futures are indicated higher today even after the gains we saw yesterday. right now the dow futures up by close to 30 points. and the nasdaq is up by about 11 points right now. let's get right to your morning headlines. european shares have hit 14-month highs this morning after a german court ruled that the country could proceed with ratification of a european bailout fund. the german parliament could veto any future increase, but a lot of people taking this as a winning right now. in the meantime, back here in the united
was one of the worst economic decisions in the history of the united states. on where we go from here. >>> creating job opportunities in a world of technology. >> just what i need. let's do that. >> former aol boss with a plan to pave the way for the next generation of america's workforce. >> and tracking the fed's next steps. find out what fed watchers and experts are saying in the latest cnbc fed survey. the second hour of "squawk box" begins right now....
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in the united states it has a dual mandate. price stability and full employment. and it's done neither. and so i'm glad they're finally tying those actions together. >> marc, fair point. what would you do as a policy maker? >> well, first of all, if i were mr. bernanke, for sure i would resign after having messed up the u.s. as badly as mr. greenspan and mr. bernanke have done over the last 15 years. and mr. bernanke before he was fed chairman, he was one of the principal architects of ultra expansionary monetary policies, never paying any attention to credit growths that led to the housing bubble. and if i had messed up this badly, i would for sure resign. but secondly, if you you really want to have an expansionary mop taker po monetary policy that helps the man on the street, should you do what sheila bair proposed, namely send each household a check for $5 million interest rate free. i would go as far as to say send them each $10 million free as a gift and put it on the balance sheet of the treasury and the fed and that would boost consumption temporary. don't
in the united states it has a dual mandate. price stability and full employment. and it's done neither. and so i'm glad they're finally tying those actions together. >> marc, fair point. what would you do as a policy maker? >> well, first of all, if i were mr. bernanke, for sure i would resign after having messed up the u.s. as badly as mr. greenspan and mr. bernanke have done over the last 15 years. and mr. bernanke before he was fed chairman, he was one of the principal architects...
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to the extent europe is not being helped is not helping the united states. folks if you're thoroughly confused it means you're paying attention. >> no european official has talked about wanting a stronger euro for years. they all want the weaker euro. >> why they keep talking about lower rates, you keep holding steady with rates. >> becky you are as usual a genius in that regard. the thinking that i've heard is that ultimately the ecb goes to parity with the fed at zero or zero to a quart per. >> what are they waiting for? >> that's a good question. what are they waiting for? the idea being if you have a single mandate you are less free to move your currency when you're doing that. the latest number was 2.6% inflation in the eurozone, so given that mandate constraint, they can't do it. the fed can look at 8%, 9%, 10% unemployment and say with a forecast of lower inflation down the road, i can move now to zero. >> it seems to me central banks make uhm the rules as they go aening lo, when they'll do all of the extraordinary things to say yes this is in our man
to the extent europe is not being helped is not helping the united states. folks if you're thoroughly confused it means you're paying attention. >> no european official has talked about wanting a stronger euro for years. they all want the weaker euro. >> why they keep talking about lower rates, you keep holding steady with rates. >> becky you are as usual a genius in that regard. the thinking that i've heard is that ultimately the ecb goes to parity with the fed at zero or...
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angry mobs also protesting against the united states in that country. things are especially tense in lebanon today, and that is because the pope has arrived for a regularly scheduled visit. in about an hour as well, president obama will receive the caskets carrying the four americans who were killed in libya earlier this week. he will be at andrews air force base, and we will carry that live for u as is always the case, when there is serious violence in the irish world, we have to look at oil. right now west texas intermediate is up .5% at 98.71, and brent crude is up about one-third of a percent at $116.32. >> after quite a busy start to the year, there hasn't been an initial public offering in the united states since august 16th. that was 29 days ago. that is about to change big time. kayla is looking ahead to a deluge of deals next week. >> there certainly is a busy backlog coming to the fore of the ipo market next week. seven companies are set to hit the market, and it's long overdue activity for sure. it is a cross-section of industries, which is a
angry mobs also protesting against the united states in that country. things are especially tense in lebanon today, and that is because the pope has arrived for a regularly scheduled visit. in about an hour as well, president obama will receive the caskets carrying the four americans who were killed in libya earlier this week. he will be at andrews air force base, and we will carry that live for u as is always the case, when there is serious violence in the irish world, we have to look at oil....
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states. euro/sterling, down a little bit. after that manufacturing pmi number came much better than expected. so interestingly enough, employment stilg still picking up in manufacturing. although it's still in contractionary territory. if you like pmi, you'll like china for the last couple of days. >> i think, ross, asian bourses mostly finished higher despite down beat manufacturing numbers from china. analysts say those weak readings could prompt supported policies from the central bank. the gape, 0.6% gold liner search off future fed. developers rally following the comments on building more affordable housing. the hang seng followed suit, helped by congress congress property place and internet giants. turning negative in late trade to end at a four-week low. lost over 6% after it proposed to revise down its stake back in march. energy places and industrials sent the kospi higher by .4%. samsung electronics lost a round after apple targeted four more cents on products. the afx 200 eked out
states. euro/sterling, down a little bit. after that manufacturing pmi number came much better than expected. so interestingly enough, employment stilg still picking up in manufacturing. although it's still in contractionary territory. if you like pmi, you'll like china for the last couple of days. >> i think, ross, asian bourses mostly finished higher despite down beat manufacturing numbers from china. analysts say those weak readings could prompt supported policies from the central...
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i think that's a really big important part of the story of the economy here in the united states. >> quincy, what areas of the market are going to continue rising, assuming you believe the stock market goes higher? >> i think you're going to see the cyclical sectors, the ones that were neglected by the defensive sectors. if you think this is going to move higher, you're already moving into the industrials, the materials, and energy and tech. and financials as well. >> you think this has legs? what do you think the rest of the year looks like in terms of this market? >> this is not straight up. i think one of the reasons you see gains locked in today is who wants the spend the weekend worrying about what's going on in the middle east? there are going to be issues that pull this market back, but i think that you've got a bottom for the market, and you're going to see it grind higher every time there's a pullback. >> stephanie, you told me yesterday immediately following the fed decision when you were sitting next to me on "halftime," buy the financials head over fist. >> yeah, and we a
i think that's a really big important part of the story of the economy here in the united states. >> quincy, what areas of the market are going to continue rising, assuming you believe the stock market goes higher? >> i think you're going to see the cyclical sectors, the ones that were neglected by the defensive sectors. if you think this is going to move higher, you're already moving into the industrials, the materials, and energy and tech. and financials as well. >> you...
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there actually in the united states has been a dip in new starts. usually there's an upswing in new starts in the recession. we have a very unusual recession going on here. i think it's largely driven by the origins of the recession, that it was a finance-based recession. this has rippled through in terms of credit into the economy and it's changing the nature of available capital resources for startups. although your concern is logical, i don't think it's what's happening right now. >> the number one concern people have about the u.k. is the proximity to europe. this seems to be the number one issue. you can't do anything about the back drop. the government has pinned its hopes on programs like the funding for lending scheme. do you think this does anything to encourage small businesses? >> there's a couple of points in there. i completely agree that we have a challenge that our largest trading partner is the e.u. there's little to be done about that per se. but funding -- the lending for business scheme is a challenge in the startup context in a n
there actually in the united states has been a dip in new starts. usually there's an upswing in new starts in the recession. we have a very unusual recession going on here. i think it's largely driven by the origins of the recession, that it was a finance-based recession. this has rippled through in terms of credit into the economy and it's changing the nature of available capital resources for startups. although your concern is logical, i don't think it's what's happening right now. >>...
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Sep 28, 2012
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here in the united states, north america things are okay. nike branded sales were up 23% by revenue in north america. at the same time, under armor, luol lieu lemon, they compete very heavily here in the u.s. how concerned should we be about the 23% number and preserving that in future quarters? >> i think that's, you know, a little artificially high because they do have the first year of the nfl license. that is a new business for them so that is propping up the number a little bit on a year over year basis but overall even when you exclude that they have very strong double digit numbers well into the teens and i think nike is competing as well as under arm our or lulu in the women's category in the u.s. no question. >> yeah. in terms of china, michael, i wonder if you think there is hope there because future orders were down so significantly. what can nike do if anything or is it simply a macro story we have to sit back and wait for the china economy to do better? >> that is part of it. you can't let them off the hook on that. i think they
here in the united states, north america things are okay. nike branded sales were up 23% by revenue in north america. at the same time, under armor, luol lieu lemon, they compete very heavily here in the u.s. how concerned should we be about the 23% number and preserving that in future quarters? >> i think that's, you know, a little artificially high because they do have the first year of the nfl license. that is a new business for them so that is propping up the number a little bit on a...
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i mean, the math is done a little bit differently in the united states, you having done a ph.d. at harvard. they are taking care of the problem, aren't they? they are in the process? >> well, they are talking about it. i don't think they are doing any meaningful things, because in the u.s. political system, you really have to have the president, the white house, and the congress working together. and currently, the two parties are not even talking the same language oftentimes. so i do hope whatever the outcome of the presidential election in the u.s., the two parties, the administration and the parliament, the congress should work together. >> yeah, their philosophies are farther apart than ever. it's two different americas. what are you saying then? you're saying with the prospect of still a possible qe3, that a serious debasement of the dollar devaluation -- almost like a deliberate devaluation of the dollar is going to enter the conversation here? is that what you're alluding to? >> no. what i'm saying is the u.s. financial crisis is a monumental, historical event. the conseq
i mean, the math is done a little bit differently in the united states, you having done a ph.d. at harvard. they are taking care of the problem, aren't they? they are in the process? >> well, they are talking about it. i don't think they are doing any meaningful things, because in the u.s. political system, you really have to have the president, the white house, and the congress working together. and currently, the two parties are not even talking the same language oftentimes. so i do...
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for 30 some years at manyperint different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> let's get a sector check. a lot of indecision ahead of the fed this afternoon. here's one look how consumer staples is doing this morning. meanwhile just in time for fashion week. google glasses making its runway debut during the die van von furstenberg show. it's being released through google+. joining us here at post 9 today is spencer annie. he's the bureau chief. always good to have you. >> good to see you, carl. >> you got to sit down and test drive these things yourself on monday. >> kind of like winning the lottery a little bit. >> what was it like? >> it was really interesting. the iphone 5 came out yesterday and a lot of people criticized it for being boring. this is not boring. it's basically a wearable computer that is a pair of eye frames, right?
for 30 some years at manyperint different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> let's get a sector check. a lot of indecision ahead of the fed this afternoon. here's one look how consumer staples is doing this morning. meanwhile just in time for...
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it's a lie and the president of the united states needs to come before the american people and explain to them what did he know? when did he know it? and why has he and senior officials been lying. >> is jack jacobs here. welcome. i want to bring you in. we have been talking about this whole situation. it looks, to me, like this was a major security breakdown. the intelligence people told them that this was with a pre-planned al qaeda terrorist attack within 24 hours of the awful killing of our ambassador and the other people with them. and the white house denied and denied it and are still denying it and i say susan rice should be fired. she should resign and i'm asking jack, up the chain of command, what is hillary clinton's role and what is president obama's role? >> well, let me tell you, everybody is responsible for everything that happens in his unit or fails to happen. the state department has a great deal to answer for. there's no doubt in my military mind this was a pre-planned attack. if you look at it as a small unit operation, they had mortars that they shot, combined with
it's a lie and the president of the united states needs to come before the american people and explain to them what did he know? when did he know it? and why has he and senior officials been lying. >> is jack jacobs here. welcome. i want to bring you in. we have been talking about this whole situation. it looks, to me, like this was a major security breakdown. the intelligence people told them that this was with a pre-planned al qaeda terrorist attack within 24 hours of the awful killing...
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should been united states retaliate in some way for this flag burning? >> well t short answer is, it's more important than just defending the flag, it's defending our interests and our national requirements in that region. we have got to get engaged. we have got to get reengaged because if we don't, we're going to see more and more of this. >> many thanks, general mark kimet stayed up late for us in germany. i'm larry kudlow, we will see you tomorrow night. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. the silverado's powertrain warranty is 40,000 miles more than ford. and this workhorse gives you the power of a v8 with the highway fuel
should been united states retaliate in some way for this flag burning? >> well t short answer is, it's more important than just defending the flag, it's defending our interests and our national requirements in that region. we have got to get engaged. we have got to get reengaged because if we don't, we're going to see more and more of this. >> many thanks, general mark kimet stayed up late for us in germany. i'm larry kudlow, we will see you tomorrow night. [ male announcer ] how do...
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whatever is happening here in the united states today, it is risk on if you're in the banks. take a look at even the german banks. of course, who wants to concentrate on the bonds? look at this, deutsch bank up 6%. big bank across europe rallied strongly again today. there is no new news today but the confidence is shifting. it may not be sustained. they may sell off on monday. but, look, in italy, this bank here almost up 10%. you know these guys here exposed to sovereign debt. look at the way in which they have gained today. separate to that, of course, kate kelly was showing us that we have an improved offer for xtrata. importantly, from china, and i've spoke with the steel stocks. in china you have the announcement of $157 billion of infrastructure spending. look at how the other miners around the world, a lot of them in london, have also gained today. it's been a terrible performer, up 7%. a very important day today in europe. melissa, back to you. >> let's get a check on energy and commodities. sharon epperson at the nymex. sharon? >> it's an important day in the commod
whatever is happening here in the united states today, it is risk on if you're in the banks. take a look at even the german banks. of course, who wants to concentrate on the bonds? look at this, deutsch bank up 6%. big bank across europe rallied strongly again today. there is no new news today but the confidence is shifting. it may not be sustained. they may sell off on monday. but, look, in italy, this bank here almost up 10%. you know these guys here exposed to sovereign debt. look at the way...
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we've got manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition value is providing support. to the extent companies return cash to shareholders, that offers some support. >> do you see many acquisitions in the market at the moment? >> no, and that's one of the things that's been surprising and disappointing at the same time. it's interesting. there are areas of the market where you've seen capital flow to economic opportunity. for example, buying single family homes to rent them out. which is an arbitrage that was made available by the decline housing prices you haven't seen a comparable level of activity on the corporate side, w
we've got manufacturing contracting here in the united states. yesterday, we learned it's contracting in the china for the first time since november and in europe, it continues to contract. and yet, you think that the market is well supported here, why? >> i think it's going to be a range bound market. i think right now, we're in the tougher end of the range. there are two things that are supporting the market. one, there is an economic value to entities and so the lbo or acquisition...
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we need that here in the united states, too. we have to get our mojo back. >> we have to leave it there. congratulations. we wish you lots of luck. >> watch the space, entrepreneurs in greece. >> well. joe. >>> coming up, bart chilton has september a letter to ben bernanke, and we'll see the note even before he does. >>> best and worst cities for travel taxes revealed. here's today's road warrior report. business travelers visiting the windy city will be hit by a storm of taxes. that's according to a brand new study released by the global business travel association. they claim chicago hits u.s. travelers the hardest when you combine sales and travel taxes to the tune of more than $40 per day. on average that's 81% higher than ft. lauderdale, florida, has has the lowest tax burden of just over $22 per day. the chicago convention and tourism bureau didn't respond to our request for comment. see the full list of the best and worst cities for travel taxes at road warrior.cnbc.com up. a short word that's a tall order. up your game.
we need that here in the united states, too. we have to get our mojo back. >> we have to leave it there. congratulations. we wish you lots of luck. >> watch the space, entrepreneurs in greece. >> well. joe. >>> coming up, bart chilton has september a letter to ben bernanke, and we'll see the note even before he does. >>> best and worst cities for travel taxes revealed. here's today's road warrior report. business travelers visiting the windy city will be hit...
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Sep 6, 2012
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we have lackluster growth in the united states. we have draghi coming out and downgrading the gdp outlook and out right recession as europe will likely be in 2013. how can this be? the answer from the bulls is where earnings may be lackluster but they'll still be positive. here is the estimates right now for earning. question down, q4 a big bump up. this isn't going to happen. this is 14 thst. the numbers will come down but still positive. overall for 2012, 4%, maybe 3%. not as much as in the past year. it is still growth, 2013, you know the numbers are the how. you know they will come down. it is 11%. that will probably end up at 5% next year. 5% growth, carl, is still 5%. it is not negative earnings growth. to argue for negative earnings growth, let me tell you what people are telling me. they keep saying you can't do this way. revenue growth is petering out, the margin expansions are tougher, china will have a hard landing, a soft patch in the u.s. economy, we'll hit the fiscal cliff. this is what people yell at me every day. he
we have lackluster growth in the united states. we have draghi coming out and downgrading the gdp outlook and out right recession as europe will likely be in 2013. how can this be? the answer from the bulls is where earnings may be lackluster but they'll still be positive. here is the estimates right now for earning. question down, q4 a big bump up. this isn't going to happen. this is 14 thst. the numbers will come down but still positive. overall for 2012, 4%, maybe 3%. not as much as in the...
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Sep 21, 2012
09/12
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one of the many topics we covered was the possibility of a significant downturn in the united states economy. >> so if you have a downturn, there's a possibility that you don't have that right mix and that you could have a downturn. the odds of that are comparatively low but i worry about it because it's significant possibility. i described it as though, imagine you're on an airplane that's flying from here to los angeles, you're probably going to get there okay but if you hit an air pocket and meaning if the economy goes down, there's not an easy way to reverse it. monetary policy is less effective because when you buy a bond, when the federal reserve makes a purchase, that has the effect of giving money to somebody who won't put that money into something like that bond. and that money does not easily go to people who spend it, that's a balance between monetary and fiscal policy and i worry about the policymakers getting that balance right. that's a possibility and a scary possibility. other than that, i think the most likely situation is we will fly successfully from here to los an
one of the many topics we covered was the possibility of a significant downturn in the united states economy. >> so if you have a downturn, there's a possibility that you don't have that right mix and that you could have a downturn. the odds of that are comparatively low but i worry about it because it's significant possibility. i described it as though, imagine you're on an airplane that's flying from here to los angeles, you're probably going to get there okay but if you hit an air...
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Sep 19, 2012
09/12
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in the united states this is totally open ended and as the fed announced last week. they're just going to print money until we see a major improvement in the job market. i consider what's happening in europe actually better monetary poli policy. >> why would you consider it better? i don't think either of those policies address what they're trying to address. in the case of the u.s. i don't see a correlation with fed programs and unemployment or at least not one big enough to pull out and with regard to europe, if outside investors don't come in or you don't fix what's wrong with these countries, how long can the printing presses go? can you comment on my opinion versus yours? >> sure. remember, europe is where we were a few years ago. they still have to shore up the banking system. they have to do a lot of things including deposit insurance if you deposit in different countries, so what draghi is doing is financially trying to shore up the banking system. what we're doing in the united states if you at price of gold, the inflationary expectations in the tips market,
in the united states this is totally open ended and as the fed announced last week. they're just going to print money until we see a major improvement in the job market. i consider what's happening in europe actually better monetary poli policy. >> why would you consider it better? i don't think either of those policies address what they're trying to address. in the case of the u.s. i don't see a correlation with fed programs and unemployment or at least not one big enough to pull out and...
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Sep 26, 2012
09/12
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the government wanted to increase the home ownership in the united states. so much of the financial crisis written is not true. i had the opportunity, i was ceo of bb & t for 20 years, larry and i were just talking about, we met years ago, i knew bernanke, knew greenspan, all the ceos of large financial institutions and this is, i believe, the first book that actually tells people what really happened in the total context. going back to the early '70s, working through what happened with community reinvestment act, freddie and fannie. the impact on decision makers, a lot of books written by congress that don't really understand what the impact of regulations have on people trying to make decisions. if somebody threatens to put you in jail, closes your bank down, you're going to do things that you may have a lot of discomfort with. and this is something joe would be interested in. i talk a lot about philosophy. bb & t did better than any other institution. all of our management, and another reason, this is interesting, i think a lot of ceos were victims of wha
the government wanted to increase the home ownership in the united states. so much of the financial crisis written is not true. i had the opportunity, i was ceo of bb & t for 20 years, larry and i were just talking about, we met years ago, i knew bernanke, knew greenspan, all the ceos of large financial institutions and this is, i believe, the first book that actually tells people what really happened in the total context. going back to the early '70s, working through what happened with...
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Sep 17, 2012
09/12
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states. it's just when that breaks down and you don't think it's fair. and you know what else plays into it? is corporate cronyism and the kablt ability to succeed but not to fail. we talk about these things in a perfect world. and it's not perfect. and that's when we get things that need to be rectified and people feel like they're getting screwed, basically. >> no, there's a feeling, and the feeling is enhanced in a downturn, a bubbly economy is when people feel better. i have to add these problems may seem, you know, to be challenges for us. they're big challenges in other places. >> worse than here. >> oh, yeah. india has had momentum stall and a loss of investor confidence from some really dumb stuff. >> you think we can get our mojo back, mike? >> oh, yeah. >> you do? >> yeah, i think so. partly because there's so many parts of the economy on the private sector side that are dynamic and functioning fine. i think people will get motivated and get back in the game. the real question marks
states. it's just when that breaks down and you don't think it's fair. and you know what else plays into it? is corporate cronyism and the kablt ability to succeed but not to fail. we talk about these things in a perfect world. and it's not perfect. and that's when we get things that need to be rectified and people feel like they're getting screwed, basically. >> no, there's a feeling, and the feeling is enhanced in a downturn, a bubbly economy is when people feel better. i have to add...
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Sep 12, 2012
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this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. chris led our diplomatic post in benghazi with courage and resolve, he built partnerships with libyan revolutionaries and helped them as they planned to build a new libya. when the gadhafi regime came to an end, chris was there to serve as ambassador to the new libyan. he worked tirelessly to support this young democracy. i think both secretary and dlin ton a clinton and i relied deeply on his knowledge of the situation on the ground there. he was a role model to all who worked with him. and to the young diplomats who aspire to walk in his foot steps. along with his colleagues, chris died in a country that is still striving to emerge from th
this attack will not break the bonds between the united states and libya. libyan security personnel fought back against the attackers alongside american. libyans helped some of our dips find safety and carried ambassador's body to the hospital where we tragically learned he had died. it's especially tragic that chris stevens died in benghazi because it is a city he helped to save. at the height of the libyan revolution. chris led our diplomatic post in benghazi with courage and resolve, he...